NEW DELHI: The BSESensex continued to trade in a tight range on Tuesday in the absence of any major trigger as cautious investors stayed on sidelines ahead of the voting in the Lok Sabha over FDI in retail. According to analysts, the market is likely to consolidate in the near term before the next upmove. "The Indian indices traded in a narrow range and managed to sustain above 5850 levels. The momentum has shifted again to mid caps and small caps," IIFL said in a report. (Check out our Facebook page for more market news)

At 02:30 pm, the 50-share Nifty index was at 5,882.35, up 11 points or 0.19 per cent. It touched a high of 5,886.95 and a low of 5,859 in trade today.

The Sensex was at 19,340.97, up 35.65 points or 0.18 per cent. The index touched a high of 19,359.49 and a low of 19,263.71 in trade today.

Jet Airways Ltd reversed gains of 7 per cent in trade after hitting its 52-week high of Rs 594 on the National Stock Exchange on Tuesday. The stock surged in trade following the market buzz of a possible deal between the airline and United Arab Emirates' Etihad Airways for stake sale.

Jet Airways was trading 2.75 per cent lower at Rs 539.45. The stock has hit a low of Rs 506.75 and a 52-week high of Rs 594 on the National Stock Exchange. SpiceJet also pared most of its earlier gains of over 4 per cent and is now trading 0.4 per cent higher at Rs 43.60.